Oil falls 1% ahead of US announcement to impose further sanctions on Iran

Oil falls 1% ahead of US announcement to impose further sanctions on Iran

August 23, 2026 / Liam Redmond /


Published Mon, Aug 24, 2026 · 07:41 AM

[SINGAPORE] Oil prices slipped 1 per cent on Monday (Aug 24) as investors took profit ahead of an expected announcement from Washington to impose more sanctions on Iran.

Brent crude futures fell 94 cents, or 1 per cent, to US$93.45 by 2308 GMT, while US West Texas Intermediate crude was at US$86.14 a barrel, down 92 cents, or 1.06 per cent.

US Treasury Secretary Scott Bessent, set to hold a press conference at 2 pm EDT (1800 GMT) on Monday, has threatened to impose “the toughest sanctions in history” on Iran. REUTERS



Source link

Posted in

Liam Redmond

As an editor at Forbes Washington DC, I specialize in exploring business innovations and entrepreneurial success stories. My passion lies in delivering impactful content that resonates with readers and sparks meaningful conversations.

Leave a Comment